Who Says You Can't Buy a Home!: How to Put Credit Problems, Down Payment Challenges, and Income Issues Behind You -- And Get a Mortgage Now

"For every prospective homebuyer there is a unique financial situation. Some may have past or current credit issues, others lack cash-on-hand for a down payment, and many have unpredictable incomes. But this doesn’t mean these folks are any less entitled to own a home. Who Says You Can’t Buy a Home! gives readers plenty of proven, powerful ways to overcome perceived obstacles to home ownership. Real estate and home-buying authority David Reed tells hopeful buyers everything they need to know about establishing credit, using government mortgage and zero money down programs, buying foreclosures, getting subprime loans, buying without a mortgage, and much more. And for those with shaky credit, Who Says You Can’t Buy a Home! offers priceless advice on managing credit scores and reports, repairing bad credit, and other crucial steps that can make the difference between owning a home and being turned down. The book also shows how to avoid predatory lenders and common mistakes, while giving readers the confidence and know-how to get the home they’ve always wanted." Annotation. "For every prospective homebuyer there is a unique financial situation. Some may have past or current credit issues, others lack cash-on-hand for a down payment, and many have unpredictable incomes. But this doesn't mean these folks are any less entitled to own a home. Who Says You Can't Buy a Home! gives readers plenty of proven, powerful ways to overcome perceived obstacles to home ownership. Real estate and home-buying authority David Reed tells hopeful buyers everything they need to know about establishing credit, using government mortgage and zero money down programs, buying foreclosures, getting subprime loans, buying without a mortgage, and much more. And for those with shaky credit, Who Says You Can't Buy a Home! offers priceless advice on managing credit scores and reports, repairing bad credit, and other crucial steps that can make the difference between owning a home and being turned down. The book also shows how to avoid predatory lenders and common mistakes, while giving readers the confidence and know-how to get the home they've always wanted." Where to find mortgages The key people in your approval process Types of mortgage loans The mortgage application process Debt ratios and how they're calculated Loan documentation: proving your income Loan fraud Buying with no money down Government programs with zero money down Conventional zero-down loan programs Borrowing from a 401(K), an IRA, or other asset Seller carry, lease-purchase, wraps, and land contracts What's in a credit report? No credit versus bad credit Credit scores How to repair credit Mortgage loans and bankruptcies Consumer credit counseling services Bad-credit loans the world of subprime lending Finding the best subprime loan Should you just wait? Buying foreclosures Finding the best deal Closing costs Appendix A: 10 biggest mistakes mortgage applicants make Appendix B: Additional resources Appendix C: HUD-approved nonprofit agencies and home buyer assistance Appendix D: Payment tables Glossary Index. If you picked up this book, you most likely have some unique requirements.